Chevron Co. (NYSE:CVX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Chevron Co. (NYSE:CVX) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $175.27.

CVX has been the topic of a number of recent research reports. Raymond James lifted their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th.

Chevron Stock Up 0.3 %

CVX opened at $156.19 on Friday. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm’s fifty day moving average price is $153.56 and its two-hundred day moving average price is $151.16. The company has a market capitalization of $280.68 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the company earned $3.05 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Chevron will post 10.18 EPS for the current year.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Large investors have recently added to or reduced their stakes in the business. Marietta Wealth Management LLC raised its position in Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares during the last quarter. Leo Wealth LLC grew its stake in Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC boosted its position in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after buying an additional 3,933 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.